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CNN
Dec 30, 2012 5:00am PST
to avoid the fiscal cliff. both houses of congress are meeting in a rather sunday session. the senate convenes aat 1:00 eastern and the house at 2:00. our chief white house correspondent jessica yellen with the look at the chances for a deal and what's on the table. >> here in washington there is still hope a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill has to extend unemployment insurance that would affect some 2 million americans, and increase taxes for the highest income earners. negotiators can still work out exactly where that tax increase would hit and whether they would halt an increase in the estate tax. in case those discussions break down, the president has asked democratic leader harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or mo
CNN
Dec 29, 2012 7:00am PST
to avoid the fiscal cliff. even if a deal is thrown together at the 11th hour, senate majority leader harry reid says what they come up with will be imperfect. and some people aren't going to like it. i spoke with independent new york stock exchange trader kenny polkari earlier and asked them how wall street is reacting to the looming fiscal cliff. >> we've come right to the 11th hour. the -- the fact that there's going to be a substantive deal that comes out of this in the 11th hour is probably nil to zero, right? essentially in my sense, it's easier to go over the cliff. then there's clarity, right? taxes will go up, spending will get cut. the market will know what is going to happen. it can only get better from there because then you'll get legislators that come to the table, that try to cut taxes and raise some spending, and they'll argue it from a positive point of view and stand up and say, rah-rah, look what we, did right? it won't get any worse if we go over the cliff. if there's a bandaid, it leaves complete confusion, there is no clarity, the market will probably react more negati
CNN
Dec 29, 2012 5:00am PST
continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws, including one requiring apartments and condos to install carbon monoxide detectors. separately, employers will no longer be able to ask job applicants for log ins to social media accounts, such as facebook and twitter. and the increase between 28 cents and 37 cents per hour affects more than 1 million low-income earners. thanks to laws that have lower minimum wage to keep price. and the price of stamps is set to go up? e, again, by a penny, on january 27th, which brings the price of sending first-class mail to 46 cents. >>> well, the senate has also approved a five-year extension of the foreign intelligence surveillance act allowinging the government to eavesdrop on overseas phone calls and e-mails from potential terrorists. they say it's protected us from more attacks like 9/11. others argue the bill could be abused. the bill is
Search Results 0 to 2 of about 3